Metal-Catalyzed Hydration of 2-Pyridyloxirane

In the presence of CuII the hydration of 2-pyridyloxiran is accelerated 18,000-fold, and its reaction with Cl–, Br–, and MeO– becomes 100% regiospecific for β-attack

Cyclizations during the Grignard Reactions of co-Bromoalkynes

The Grignard reactions of a number of (ö-bromoalkynes have been shown to undergo regioselective cyclizations in certain instances to give the smaller possible carbocycle. These cyclizations are shown to result from two competing processes, whose relative efficiencies depend upon the chain length and the remote substitutent on the acetylene. These are interpreted as a radical cyclization which occurs only during the time the Grignard is being formed from the bromide and an organometallic reaction which slowly transforms the Grignard reagent into its cyclic isomer. The mechanistic details of these transformations are discussed

Conflicts of Interest in Sell-side Research and The Moderating Role of Institutional Investors

Because sell-side analysts are dependent on institutional investors for performance ratings and trading commissions, we argue that analysts are less likely to succumb to investment banking or brokerage pressure in stocks highly visible to institutional investors. Examining a comprehensive sample of analyst recommendations over the 1994-2000 period, we find that analysts’ recommendations relative to consensus are positively associated with investment banking relationships and brokerage pressure, but negatively associated with the presence of institutional investor owners. The presence of institutional investors is also associated with more accurate earnings forecasts and more timely re-ratings following severe share price falls

Initial Public Offerings and the Firm Location

The firm geographic location matters in IPOs because investors have a strong preference for newly issued local stocks and provide abnormal demand in local offerings. Using equity holdings data for more than 53,000 households, we show the probability to participate to the stock market and the proportion of the equity wealth is abnormally increasing with the volume of the IPOs inside the investor region. Upon nearly the universe of the 167,515 going public and private domestic manufacturing firms, we provide consistent evidence that the isolated private firms have higher probability to go public, larger IPO underpricing cross-sectional average and volatility, and less pronounced long-run under-performance. Similar but opposite evidence holds for the local concentration of the investor wealth. These effects are economically relevant and robust to local delistings, IPO market timing, agglomeration economies, firm location endogeneity, self-selection bias, and information asymmetries, among others. Findings suggest IPO waves have a strong geographic component, highlight that underwriters significantly under-estimate the local demand component thus leaving unexpected money on the table, and support state-contingent but constant investor propensity for risk

Application of panel quantile regression and gravity models in exploring the determinants of turkish automotive export industry

This paper purposes to determine potential factors influencing the amount of Turkish automotive industry exports. For this purpose, the available data of 68 major trading partners of Turkey in terms of automotive industry exports were utilized for the sample period 2007-2015. Both panel quantile regression and the gravity model of trade approaches were considered to analyze the relevant data. The empirical findings of this paper revealed that the population and the distance variables were found as statistically significant for all quantiles, while the former has positive and the latter has negative signs as expected. Results also indicated that there was a statistically significant positive correlation between GDP per capita and the amount of Turkish automotive industry exports at 10 and 50% quantiles; however, it was not statistically significant at 90% quantile despite its positive sign. Among Turkey’s exporter countries, being a EU member country dummy variable was found to have a statistically significant positive impact on the amount of automotive industry exports. Real exchange rate was not found as a significant determinant of the amount of automotive industry exports. In the lights of empirical evidence obtained from this study, several recommendations were made for Turkey’s future international trade policies